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Money Management

Allianz AUM grows 1.1% in quarter, 4.8% for 12 months

Assets under management at Allianz Group increased 1.1% in the quarter and 4.8% for the year ended Sept. 30, to €2.02 trillion ($2.34 trillion), bolstered by third-party net inflows.

A financial update Friday said the group's revenues fell 1.3% for the quarter to €30.5 billion, but grew 7.8% over the year; net income fell 5% for the quarter and increased 11.8% for the year, to €1.9 billion.

Allianz's money management unit is made up of Pacific Investment Management Co. and Allianz Global Investors. Third-party assets under management grew 1.6% in the three months ended Sept. 30, and 5.2% for the year to €1.49 trillion.

Net inflows across the money management business totaled €15 billion for the quarter, compared with €9 billion for the quarter ended June 30. For the year-earlier quarter, net inflows were €32 billion.

Market and dividend effects added €2.9 billion to assets under management, foreign exchange impacts added €4.1 billion, and other impacts added €600 million.

PIMCO assets under management grew 1.2% for the quarter and 5.6% for the year to €1.14 trillion. Net inflows were €10 billion for the third quarter, compared with €7.9 billion in net outflows for the previous quarter. For the third quarter of 2017, net inflows were €28.9 billion.

AllianzGI assets under management grew 2.4% for the quarter and 4.5% for the year to €347 billion as of Sept. 30. Net inflows were €5.4 billion for the third quarter 2018, compared with €1.3 billion in net outflows for the previous quarter; and €2.7 billion for the year-earlier quarter.